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| Paper Type | : | Research Paper |
| Title | : | Empirical Analysis of Liquidity-adjusted Capital Asset Pricing Model in the Banking Sector of Dhaka Stock Exchange |
| Country | : | Bangladesh. |
| Authors | : | Monty Adittya |
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: | 10.9790/5933-0805030107  |
Abstract: This study endeavors to provide an empirical evidence of comparatively new model of asset pricing named Liquidity-adjusted Capital Asset Pricing Model. Testing five years data from 2011 to 2015 of the banking sector of Dhaka Stock Exchange this study reveals that the explaining variables of LCAPM has failed to explain the return of the banking sector thus it has been concluded that this new model is not good enough to analyze the pricing of assets in DSE. Finally, considering some limitations of this analysis it is expected to be useful for future researchers as it is supposed to provide new evidence regarding the asset pricing tools of DSE.
Keywords: BLUE, LCAPM, liquidity, market return, trading volume.
[1] V. V. Acharya, and L. H. Pedersen, Asset pricng with liquidity risk, Journal of Financial Economics, 77, 2005, 375-410.
[2] W. Liu, A liquidity-augmented capital asset pricing model, Journal of Financial Economics, 82(3), 2006, 631-671
[3] K. T. Tam, Review and comparison of the models for asset pricing with empirical evidence from UK stock market, MA Finance and Investment Dissertation (4050190), The University of Nottingham, Nottinghamshire, England, UK, 2007.
[4] M. Rahman, A. Baten, and A. U. Alam, An empirical testing of capital asset pricing model in Bangladesh, Journal of Applied Sciences, 6(3), 2006, 662-667.
[5] A. T. Mollik, and M. K. Bepari, Risk-return tradeoff in Dhaka Stock Exchange, Bangladesh: An emerging market evidence, Australasian Accounting, Business and Finance Journal, 9(1), 2011, 71-88.
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| Paper Type | : | Research Paper |
| Title | : | Analysis of the Relationship Between Macroeconomic Variables And Stock Prices In Emerging Market Economies: Empirical Evidence From Nigeria |
| Country | : | Nigeria |
| Authors | : | Paul, Ndubuisi Ph.D |
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: | 10.9790/5933-0805030817 |
Abstract: This study examines the relationship between macroeconomic variables and stock prices in Nigeria, over the period 1986-2015. The data for the research was taken from Central Bank of Nigeria (CBN). The cointegration method was adopted to measure the long-run relationship between macroeconomic variables (money supply growth rate, exchange rate, inflation rate, and 3-month treasury bill rate) and stock prices represented by the All Share Index (ASI). The direction of causality between the variables was tested using VECM Granger causality framework. The result from Johansen estimations revealed that stock prices and the independent variables have at least one common...........
Keywords: Stock prices, inflation targeting, money supply, exchange rate, treasury bill rate.[1] Adaramola, A. 0. (2011), The impact of macroeconomic indicators on stock prices in , Nigeria, Developing Country Studies, Vol. 1, No.2,pp.l-15, www.iiste.org
[2] Adaramola, A. O. (2012). Exchange rate volatility and stock market behavior: the Nigerian experience, Research Journal of Finance and Accounting, Vol. 3(3)..
[3] Ajao, M. G. and Oseyomon, E. P (2010), The predictive content of some leading economic indicators on stock prices, Journal of Research in National Development, Volume 8 No 1, June, 2010
[4] Akani, W, H. (2013). Analysis of macroeconomic aggregates on stock prices in Nigeria: an application of co-integration and causality tests, International Journal of Business and Management Review, Vol. 1, No 3, pp. 56-79, September 2013
[5] Bernanke, Ben S. and Gertler, M. (1999), Monetary policy and asset price volatility, federal reserve bank of Kansa City, Economic Review, Fourth Quarter.
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| Paper Type | : | Research Paper |
| Title | : | Management Development of Fixed Assets in Local Government Environment of Merauke Regency Papua |
| Country | : | Indonesia |
| Authors | : | Dina Fitri Septarini || Fenty Yoseph Manuhutu |
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: | 10.9790/5933-0805031823 |
Abstract: The investigation by Financial Investigation Bureau (BPK) on Merauke local government's financial statement of 2014 got modified opinion (WDP). One of the causes is inadequate management of fixed assets. This research aims to improve management model of fixed assets which is expected increasing the effectiveness and efficiency of management of fixed assets in the Local government environment of Merauke Regency. This research used qualitative descriptive approach with survey as the data collecting technique. This was conducted in the agencies of Regional Work Unit (SKPD) environment of Merauke Regency which is amount to 27 units (SKPD). The subject was structural officials that perform the management of Region-Owned Property in each unit (SKPD). The object was..........
Keywords: local fixed assets, management of fixed assets, management model of assets[1] BPK RI, 2016, Ikhtisar Hasil Pemeriksaan Semester I Tahun 2015, Diunduh pada tanggal 14 Pebruari 2016, http://www.bpk.go.id
[2] Bappeda Kab Merauke, 2012, Merauke In Figures, CV. Sekar Wangi, www.merauke.go.id
[3] Backer, Ali, M., Yusoff, and Wan, 2014, A Review of Asset Management Practice in Malaysian Local Governments, Faculty of Technology Management and Bussiness, Universiti Tun Hussein Onn Malaysia.
[4] Bertovic, Hrvoje., Kaganova, Olga., and Rutledge, J., 2004, Asset Management Model for Local Government, Local Government Reform Project (LGRP), The Urban Institute, Usaid.
[5] Lyons, and Michael, 2004, Toward Better Management of Public Sector, A Report to the Chanceller of the Exchequer, HM Treasury, United Kingdom..
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| Paper Type | : | Research Paper |
| Title | : | Factors Responsible for the Current Contraception of Khasia Ethnic Women of Sylhet District, Bangladesh |
| Country | : | Bangladesh |
| Authors | : | S.Akter || M.S. Mazumder || N.Pal || M. Alam || M.A. Khatun |
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: | 10.9790/5933-0805032431 |
Abstract: The explicit traits of the ethnic communities are very much cast-back within their distinct ways of life. These palatable natures are seen in every sphere of their life whether in case of marriage age or even the contraceptive use from the mainstream Bengali women. Along with this norm, through Bi-variate analysis the chi-square test revealed two factors i.e., having children or not and the number of children were significantly associated with the contraceptive use. Among all the respondents, women who were bearing children (64%) used contraceptive and rest of this group (only 36%) did not use contraceptive. It is evident that the respondents with children............
Keywords: Khasia, Ethnic Community and Contraceptive use
[1] Ahmmed, M.F.and Singh,L. 2006 The State of Rural Khasia's in Bangladesh. Ethnic Community Development Organization: ECDO, Sanwar Manshion (1st Floor) Near Farhad Kha Pool, Shibgonj Sylhet, Bangladesh.
[2] http://www.minorityrights.org/?lid=5632.
[3] http://www.ecdo-bd.org/?page_id=830viewed at 11.15 PM on 14.11.2016
[4] Freedman, R. 1963. Norms for Family Size in Underdeveloped Areas, Proc. Royal Statistical Society 1963, 159, 220-234.
[5] https://www.un.org/esa/socdev/unpfii/documents/MCS_intro_1981_en.pdf viewed at 5.00 PM on 26.09.2017
[6] http://www.intercultural.ie/content/ethnicity-and-ethnic-groups-%E2%80%93-explanation-these-terms viewed at 5.30 PM on 26.09.2017.
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| Paper Type | : | Research Paper |
| Title | : | Individual Risk Attitudes with evidence from experimentally-validated Survey (The Egypt LaborMarket Panel Survey (ELMPS) |
| Country | : | Egypt. |
| Authors | : | S.Akter || M.S. Mazumder || N.Pal || M. Alam || M.A. Khatun |
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: | 10.9790/5933-0805033237 |
Abstract: In this investigation, we introduce new evidence on the distribution of risk attitudes in the population, using a representative sample of almost 10,000 individuals living in Egypt and a new set of survey questions. By using some questions about willingness to take risks, we discover evidence of heterogeneity among individuals, and clear that willingness to take risks is positively related to the level of parental education and negatively linked to age progress and being female. We check the behavioral of this survey measure by conducting a complementary experiment, based on a representative sample of 410 subjects, and find that the measure is a good predictor of true risk-taking behavior. Using many questions about willingness to take risks in fixed domains such as financial matters, educational levels, purchase of equipment and career. To find similar results regarding to heterogeneity and determinants of risk preferences, we use a more standard lottery question to measure risk preference.
Keywords: Distribution of Risk Attitudes; Experimental Validation; Field Experiment; Gender Differences; educational levels; Age; Egypt.
[1] Ghada. Barsoum, The Egypt Labor Market Panel Survey 2006 report onmethodology and data collection, Economic Research Forum, 0704, (2007), 1-23.
[2] Thomas Dohmen, Armin Falk, David Huffman, UweSunde, JurgenSchuppandGert G. Wagner, Individual Risk Attitudes: New Evidence from a Large, Representative, Experimentally-Validated Survey, German institute for economic research, 511, (2005), 1-63.
[3] Holger Bonin, Amelie Constant, Konstantin'sTatsiramos and Klaus F Zimmermann, Ethnic persistence, assimilation and risk proclivity, IZA Journal of Migration, 2012, 1-5.
[4] Ruhr-Universidad Bochum, Risky business the role of Individual Risk Attitudes in occupational choice, Ruhr Economic Papers, 187, (2010), 1-27.
[5] Bernd Rohrmann, Risk Attitude Scales: Concepts, Questionnaires, Utilizations, University of Melbourne/Australia - January (2005)..
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| Paper Type | : | Research Paper |
| Title | : | Double Taxation Treaty and Foreign Direct Investment: The Nigeria evidence |
| Country | : | Nigeria |
| Authors | : | Felix Erhinyoja ERHIRHIE || Joy Omeghie OSEMWEGIE-ERO |
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: | 10.9790/5933-0805033848 |
Abstract: The quest to magnetize more foreign direct investments (FDI) due to its direct impact on economic development has become the most glaring purport of countries signing Double Taxation Treaties (DTTs) with other countries. However, whether or not DTTs has incremented FDI in Nigeria as a country remains the vocal point of many pundits. This study empirical examined the relationship between double taxation treaties and FDI in Nigeria. The secondary data source was employed as extracted from several editions of the Central Bank of Nigeria (CBN) statistical bulletins from 1976 to 2016. The unit root test was employed to ascertain the stationary state of the variables in the model which was estimated using the ordinary least squares method. The result suggests that DTT is positively related with FDI, but not statistically significant. The study recommends that Nigerian government should focus on provision of adequate infrastructural development and favourable investment policies in order to encourage indigenous local investors.
Keywords: Foreign direct investment, double taxation treaty, bilateral agreement
[1] Aganga, O.O. (2014 October 6, 2014). Nigeria's manufacturing sector in 2012, Daily Independent, Lagos.
[2] Baggerman-Noudari, K., & Offermanns, R. (2016). Foreign direct investment in developing countries: Some tax considerations and other related legal matters. IBFD Bulletin for International Taxation, 310-321.
[3] Baker, P. (2012). An Analysis of Double Tax Treaties and their Effect on Foreign Direct Investment, Available at http://www2.warwick.ac.uk/fac/soc/economics/news_events/conferences/peuk12/paul_l__baker_dtts_on_fdi_23_may_2012.pdf
[4] Barthel, F., Busse, M., & Neumayer, E. (2010). The impact of double taxation treaties on foreign direct investment: evidence from large dyadic panel data. Contemporary economic policy, 28(3), 366-377
[5] Blonigen B.A., Oldenski, L., & Sly, N. (2011). Separating the opposing effects of bilateral tax treaties, NBER paper 17480
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| Paper Type | : | Research Paper |
| Title | : | Impact of Icts Development on Economic Growth in Indonesia |
| Country | : | Indonesia |
| Authors | : | Prawidya Hariani RS |
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: | 10.9790/5933-0805034956 |
Abstract: Information and communication technologies (ICTs) have become human needs in the world today, including the Indonesian community that has accepted the use the support their daily activities. Utilization even already meets almost all areas of life such as education, health, business and trading, companies and other non-profit organizations.This paper using endogenous economic growth (EGT) model, the type of quantitative data on to time series from the year 1998 to 2014 in Indonesia. Economic growth model will use the method of linear regression model estimation of ordinary least square method (OLS), as well as software EViews-8. The next study will analyze the mapping between the high and low the growth of ICT to economic growth across the province level...............
Keywords: ICTs, Economic Growth, Klassen Typologi
[1]. Indonesian Central Berau of Statistic (2014); Laju Pertumbuhan PDB Indonesia, http://www.bps.go.id accepted 3 Januari 2016
[2]. Indonesian internet service providers association (AJPII); 2015, Profil Pengguna Internet Indonesia 2014, http://apjii.or.id, accepted 2 Januari 2016
[3]. Khuong, Vu Minh (2014), Information and communication Technology (ICT) and Singapore's Economic Growth. Accepted papper serries, Lee Kuan Yew School of Public Policy NUS, Singapore
[4]. Samimi, Ahmad Jafari, Ledary, Babajenad,R, (2015); ICT and Economic Growth : A Comparison Between Developed and Developing Countries, International Journal of life Science and Engineering, American Institute of Science, Vol I No. 1, April 2015.
[5]. Todaro, M.P and Smith SC, (2011); Ekonomi Pembangunan : Proses, Masalah dan Dasar Kebijakan, 11st Edition, Erlangga , Jakarta
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| Paper Type | : | Research Paper |
| Title | : | Performance of Manufacturing Industry Sector in Indonesia |
| Country | : | Indonesia |
| Authors | : | Fahrudin Ramly || Jaelani LaMasidonda || Maria K Tupamahu |
|
: | 10.9790/5933-0805035764 |
Abstract: Performance of manufacturing industry sector in various provinces in Indonesia is quite diverse. Manufacturing industry is concentrated in Java Island, especially in West Java, East Java, Central Java and Banten. Provinces with rapid development of manufacturing industry outside Java Island are Riau Island Province in Sumatera and West Papua Province. The highest ranking of Province Manufacture Performance Index (PMPI) is West Java at 1.83. It means that manufacturing sector is 1.8 times higher than the regional economy. In other words, every 1 percent of regional economic share to the national economy will be able to encourage the growth of manufacturing industry sector by 1.83 percent. East Nusa Tenggara Province has the lowest rate of 0.0526, which means that 1 percent of regional economic share is only able to create 0.0526% development of manufacturing industry or 94.74 percent below its regional economic capacity.
Keywords: Province Manufacture Performance Index, Manufacturing industry, Regional Economy
[1] Hla Myint, 1971, Economic Theory and the Underdevelopment Countries, Oxford University Press, London
[2] Booth, Anne dan Mc Cawley, Peter, (Eds), 1981, The Indonesia Economy During The Soeharto Era, Oxford University Press, Malaysia.
[3] Ramly, F, 2013., Peringkat Propinsi Dalam Pengembangan Ekspor, Jurnal Cita Ekonomi, Vol.. No.. Fakultas Ekonomi Universitas Ambon
[4] Situmorang, J.W., Peringkat Propinsi Dalam Membangunan Ekonomi Koperasi Analisis Berdasarkan Indeks Pekr, Jakarta.
[5] Yustika, A.E., 2007, Perekonomian Indonesia: Satu Dekade Pascakrisis Ekonomi, BPFE UNIBRAW, Malang.
[6] Basri, F dan Munandar H., 2009., Lanskap Ekonomi Indonesia, Kencana Prenada Media Group, Jakarta.
[7] Tambunan, T.T.H., 2003, Perekonomian Indonesia: Beberapa Masalah Penting, Ghalia Indonesia, Jakarta.
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| Paper Type | : | Research Paper |
| Title | : | Awareness Level of Al-Rahn (Islamic pawn broking) among Malaysian Muslim Non-Users |
| Country | : | Malaysia |
| Authors | : | Yusuff Jelili Amuda || Siti Nurul Shuhada Deraman |
|
: | 10.9790/5933-0805036570 |
Abstract: Pawn broking services in Malaysia have developed rapidly since the early 60s. Unfortunately, public awareness of Islamic pawn broking or Al-Rahn remains limited, especially among Muslim non-users. This study examines the awareness levels among Malaysian Muslim non-users of Al-Rahn. Self-administered questionnaires using purposive sampling were distributed to 150 respondents, 88 of which were. This study concludes that gender, income level, educational background, and occupation did not have a significant impact on awareness levels among respondents with the exception of age.
Keywords: Al-Rahn services, Awareness, Non-Muslim Users and factors
[1] Almossawi, M. (2001). Bank selection criteria employed by college students in Bahrain: An empirical analysis, International Journal of Bank Marketing, 19 (3), 115-125
[2] Almossawi, M., & Metawa, S.,A. (1998). Banking behavior of Islamic bank customers: Perspectives and implications, International Journal of Bank Marketing, 16(7), 299-313
[3] Appannan, S., & Doris, G. (2011). A study on Islamic pawn broking awareness and factors influencing the scheme in Sungai Petani, Kedah, 2nd International Conference on Business and Economic Research (2nd ICBER 2011) Proceeding
[4] Azila Abdul Razak. (2011). Economic and religious significance of the Islamic and conventional pawnbroking in Malaysia: Behavioural and perception analysis (Ph.D. thesis, Durham University)
[5] Chow, C.W.C., Luk, C.L., & Wan, W.W. N. (2005). Customers' adoption of banking channels in Hong Kong, International Journal of Bank Marketing, 23(3), 255-272
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| Paper Type | : | Research Paper |
| Title | : | An Empirical Study of the Effect of Monetary Policy Variables on Net Export of Nigeria |
| Country | : | Nigeria |
| Authors | : | Eze, Onyebuchi Michael || Atuma, Emeka |
|
: | 10.9790/5933-0805037182 |
Abstract: The study is an investigation of the effect of monetary policy variables on net export of Nigeria for the period 1981-2016. Monetary policy variables are the major tools employed by monetary authorities to control money supply and regulate price levels in addition to promoting investments and economic growth of a nation. In this regards, Auto Regressive Distributed Lag (ARDL) bounds cointegration test and its associated ARDL short run and long run coefficients test and Pairwise Granger causality test were utilized in the analysis. The variables engaged in the study include net export (NEX), money supply (LMS), interest rate (INR), exchange rate (LEXCR), foreign direct investment (LFDI), total export (TEXP) and total import (LTIMP). Data for the investigation were obtained from the statistical bulletin of the Central Bank of Nigeria (CBN), volume 26, 2016. The ARDL results demonstrated that both.........
Keywords: Monetary policy, Net export, Autoregressive distributed lag model, Pairwise Granger causality
[1]. Amacher, R.C & Ulbrich, H.H. (1986). Principles of macroeconomics: South Westtern Publishing Co. Cincinnati
[2]. Amassoma, D., Nwosa, P.I and Olaiya, S.A. (2011). An appraisal of monetary policy and its effect on macroeconomic stabilization in Nigeria. Journal of Emerging Trends in Economics and Management Sciences, 2(3): 232-237.
[3]. Ajisafe, R.A. and B. Folorunso, (2002). The relative effectiveness of fiscal and monetary policy in macroeconomic management in Nigeria. The African Economic and Business Review, 3(1): 23-40.
[4]. Anyanwu, J. C. (2003). Public finance: CREMD publishers, Owere
[5]. Anthony, I. I., Lekan, M. O. & Bosco, I. E. (2013). Monetary policy and its implications for balance of payments stability in